Airline

PAL sold to San Miguel for $874 million

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PAL sold to San Miguel for $874 million

In the nine month financial statement from San Miguel Corp. shows that the company sold its 49% stake in Philippine Airlines (PAL) back to tycoon Lucio Tan group for $874 million or an equivalent P38.616 billion. The sale includes the indirect ownership of 43.23% and a 48.98% beneficial interests in...

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